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Global Nanomedicine Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product (Diagnostic Imaging, Regenerative Medicine, Drug Delivery, Implants, Vaccines and Others), Disease Type (Cardiovascular Diseases, Neurological Diseases, Ophthalmological Diseases, Infectious Diseases, Immunological Diseases, Orthopedic Disorders, Oncological Diseases and Others), Nano molecule Type and Region - Industry Forecast From 2023 To 2028

Published: March, 2023
ID: 6247
Pages: 180
Formats: report pdf report excel report power bi report ppt

Global Nanomedicine Market Size (2023 to 2028)

The size of the global nanomedicine market is estimated to grow to USD 328.4 billion by 2028 from USD 179.8 billion in 2023, growing at a CAGR of 12.80% during the forecast period.

The application of various techniques and instruments of nanotechnology in medicine is known as Nanomedicine. Nanoscale materials diagnose diseases, deliver drugs, and perform other functions. Nanomedicine has the potential to revolutionize medicine in the future.

MARKET DRIVERS:

Increasing the acquisition of nanomedicine across various applications propels the growth of the global nanomedicine market. In addition, the growing government support and funds and the rising need for requirements for a few therapies are driving the market's market growth over the period. In addition, research and development related to the medical field in manufacturing novel drugs for diseases influence the Nano-medicine market growth. Furthermore, growing applications of nanomaterials such as nanocapsules and nanotubes in drug delivery systems, a growing number of cancer and cardiovascular diseases, increasing public and private investments in research activities in Nanomedicine, and advancements in the biodegradable nanoparticles are the significant factors propelling the growth of the Nanomedicine Market. Applications of nanocapsules in drug delivery have shown excellent results in chemotherapy. Nanomedicine enables excellent precision in diagnostics and therapeutics, which was impossible before. Pipeline products being developed to target cancerous tumors are expected to boost the Nanomedicine Market.

MARKET RESTRAINTS:

Unfavorable approval processes, the possibility of unintended risks during therapies, and the high cost of treatment using nanomedicine are hindering growth in the global nanomedicine market. One of the significant challenges for nanoparticle use in medicine is making the materials biocompatible.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Product, Disease Type, Nano-molecule Type, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

 

This market research report on the global nanomedicine market has been segmented and sub-segmented based on the product, disease, nano-molecule, and region.

Nanomedicine Market – By Product

  • Diagnostic Imaging               
  • Regenerative Medicine     
  • Drug Delivery         
  • Implants   
  • Vaccines   
  • Others 

Based on product type, the drug delivery products segment is predicted to account for the largest share in the global nanomedicine market during the forecast period due to the incredible precision with which drugs are delivered to the target cells or tissues in the body.

Nanomedicine Market – By Disease Type

  • Cardiovascular Diseases    
  • Neurological Diseases        
  • Ophthalmological Diseases              
  • Infectious Diseases             
  • Immunological Diseases    
  • Orthopedic Disorders         
  • Oncological Diseases           
  • Others      

Based on disease type, the oncological diseases segment is projected to dominate the global nanomedicine market from 2023 to 2028. This is because most of the research on Nanomedicine focuses on developing cancer treatment products.

The cardiovascular diseases segment is considered to have quick progress with the highest CAGR of nearly 11.7% during the review period due to changes such as demand for specific therapeutic Nano-vectors, Nano-structured stents, and implants for tissue regeneration to accelerate the Nano-medicine market growth.

Nanomedicine Market– By Nano molecule Type:

  • Nanotubes
  • Nanoparticles
  • Nanodevices
  • Nanoshells
  • Others

Based on the Nano-molecule type analysis, the Nano-Particles segment is leading the Nano-medicine market growth. It is attributed to factors such as using these Nano-particles for active targeting by binding to ligands of a cell receptor, which is an essential tool for Nano-medicine and Nano-technology. These Nano-particles contain metal and metal oxide particles that influence market growth over the review period. Research and developments carried out for theranostics are expected to drive the market.

Nanomedicine Market– By Nano molecule Type:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Geographically, the North American nanomedicine market is predicted to lead the global nanomedicine market during the forecast period due to the enormous investments in research in Nanomedicine from government organizations in the United States. This region's growth is attributed to the increasing existence of patented Nano-medicine products. The US is leading the Nanomedicine of the region due to considerable investments in market research from government organizations. In addition, to the developed healthcare infrastructure and high cancer occurrence, Nanomedicine is readily obtained in this region.

The nano-medicine market in the European region is considered to have produced profitable outcomes over the upcoming years, which owes to the increasing burden and focus on advanced technologies in the market over the period. In addition, this region has many significant companies in Nanomedicine, which results in high proliferation and sound knowledge among people. The UK is the leading country in the Nano-medicine market in this region. A wide range of Nano-medicine applications such as Nano-capsules and Nanotubes in drug delivery systems may assist the UK market to grow high.

The Asia Pacific is expected to be the fastest-growing market due to the high incidences of cancer and cardiovascular diseases owing to a large senior population. In addition, a growing number of research grants and an increasing demand for life-threatening diseases are accelerating the market growth in the Asia Pacific. Older people's population growth in the Asia-Pacific region is contributing to the market growth in APAC. China leads the market of this region due to the growing occurrence rate of cancer and cardiovascular diseases boosting the market growth. Japan is said to be the most attractive destination of the period.

The Latin American market is predicted to grow steadily over the analysis period. The growth of this region owes to increasing public and private organizations' investments in research activities in Nanomedicine, and advancements in biodegradable Nanoparticles are the factors fuelling the market growth. Brazil is accounted for having a significant share and leading the market of this region. Factors like developing the healthcare sector contribute to this country's growth, and growing government investments are driving the growth in this region.

The Middle East & Africa has the least share in the global nanomedicine market over the forecast period. Factors like significant funds and investments in clinical trials by the government and private sectors lead the market growth. In addition, the market growth is due to the high adoption rate in countries like Israel and Dubai. 

KEY MARKET PARTICIPANTS:

A few of the most dominating players in the global nanomedicine market profiled in this report are Johnson & Johnson, Merck & Co, Pfizer, Abbott Laboratories, GE Healthcare, Celgene Corporation, Nanosphere, Inc., Gilead Sciences, Hoffmann-La Roche, Nanospectra Biosciences, and Arrowhead Pharmaceuticals.

RECENT MARKET DEVELOPMENTS:

On March 05, 2019, Pfizer issued a license for AnTOIRx’s immune tolerance for autoimmune illnesses, including rheumatoid arthritis, inflammatory bowel diseases, psoriasis, multiple sclerosis, and Type-1 diabetes. In addition, the technology is designed to bring immune tolerance to specific self-antigens in diabetes.

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FAQ's

What is the current size of the nanomedicine market?

The global nanomedicine market was worth USD 159.4 billion in 2022.

Who are the key players in the nanomedicine market?

Johnson & Johnson, Merck & Co, Pfizer, Abbott Laboratories, GE Healthcare, Celgene Corporation, Nanosphere, Inc., Gilead Sciences, Hoffmann-La Roche, Nanospectra Biosciences, and Arrowhead Pharmaceuticals are some of the notable players in the worldwide nanomedicine market.

What are the drivers of the nanomedicine market?

The growing prevalence of chronic diseases, the growing aging population, and the demand for personalized medicine are majorly boosting the growth of the nanomedicine market.

What are the challenges facing the nanomedicine market?

The high cost of research and development, regulatory hurdles, and the need for more clinical trials to demonstrate safety and efficacy are some of the key challenges to the growth of the nanomedicine market.

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